Florida Corporations

How to Incorporate a Business in Florida (FL)

Florida has become one of the most desirable states in the country in which to conduct business. The State consistently leads the nation in new business incorporation. With one of the largest supplies of business parks, an advantageous business tax system, transportation availability, 14 foreign trade zones, an abundance of electrical power, and a large population of skilled human resources, Florida provides everything that a business requires to function.

We can incorporate your business or form your limited liability company or nonprofit corporation in FL for a small fee, compared not only to an attorney but to our competitors.

Articles of Incorporation Requirements

FL Corporate Name Endings

The name must contain the word “corporation”, “company” or “incorporated” or an abbreviation. The name may not contain language stating or implying that the corporation is organized for purposes other than that permitted by Florida law or the articles of incorporation. The name must be such as will distinguish it from another corporation formed in the state.

Directors Information

Minimum Number – One or more
Residence Requirements – No provision.
Age Requirements – A natural person, age 18 years or older.
Directors are not required to be listed in the articles of incorporation.

Officers Information

The officers are not required to be listed in the articles of incorporation.

Stock Information

An increase in shares or par value does not cause an increase in initial filing fees.

Corporate Records

Corporate records must be kept; however, they are not required to be stored at a specific location.

Taxes and Fees

FL Annual Statements

All businesses are required to file a Uniform Business Report. The annual filing fee is $150. Reports are due January 1 and become delinquent if not filed by May 1.

FL Franchise Tax Rate

Florida imposes a franchise tax on foreign and domestic corporations for the privilege of doing business in Florida. The tax rate is 5.5% of net income. The first $5,000 of net income for the year is exempt.

FL S Corporation

S Corporation status is recognized by the State of Florida. Further, Florida does not have a personal income tax; thus shareholders would not be taxed on corporate earnings. A separate state election from the federal election is not required.

License Requirements

Florida requires some businesses to obtain a license and pay a fee if you are operating in the state. Active Filings can research about your licensing requirements based on your activity and place of business.

ActiveFilings LLC is a document filing service and cannot provide you with legal, tax or financial advice. The information on our website www.activefilings.com is designed to provide general information related to the business formation in the USA. It is presented with the understanding that ActiveFilings LLC is not engaged in rendering legal, accounting or other professional services. If legal advice or other professional assistance is required, the services of a competent professional person should be sought.